Kelemenis & Co. advises the Greek Power Market Operator (LAGIE) on regulatory matters
The Greek Power Market Operator (LAGIE) has retained Kelemenis & Co. to review the existing legal framework that governs its operation and to assist LAGIE with proposals of legislative and regulatory nature towards the convergence of LAGIE’s operation with the European model. The assignment is of high relevance to the changes that are forthcoming in Europe under the anticipated coupling project for power markets in South-Eastern Europe in 2014. In this context, LAGIE has already proposed measures which aim to eliminate distortions in the existing regulatory framework and do so in line with the EU Target Model. The firm’s contribution is part of the process of the gradual transformation of LAGIE towards a power exchange and will also deal with assessing and streamlining the credit risks assumed by LAGIE and with the liquidity problems currently facing the Greek electricity market and the cash liquidity of LAGIE.